A prominent Australian Turf Club election candidate wants plans to sell Rosehill shelved at boardroom level, negating the need for a members’ vote on the future of the Sydney racetrack.
David Walter, one of 10 members running to fill two vacant seats as ATC directors, says if elected, he would not support any board proposal to sell the club’s richest asset.
Walter is one of two candidates endorsed by the Save Rosehill lobby group in the most significant ATC election since the club was inaugurated in 2011.
Asked about the chances of the Rosehill issue advancing to a proposed membership vote on April 3, Walter said: “I genuinely don’t know.
“But if I win a place on the board … I would not be in favour of tabling a resolution to sell the racecourse. I can tell you that right now.
“Whether or not my view prevails, well, time will tell.”
Walter and fellow board aspirants addressed a members’ forum this week before the club’s annual general meeting next Thursday.
A restructuring and insolvency lawyer, Walter contested an ATC board election four years ago but lost out to Angela Belle McSweeney and Tim Hale.
McSweeney bows out having completed her maximum term while Hale, the club’s vice chair, seeks re-election.
“I wasn't planning on running but I was really motivated by the Rosehill sale - not just because of the fact of the sale - but because of at least what I understand to be the governance and processes around the announcement,” he told The Straight.
“Putting it bluntly, I have no appetite to see Rosehill sold in the way that's being proposed at the moment - which is without any credible, comparable or superior replacement.
“The club owns - and the emphasis is on owns - one Group 1 quality track in Sydney. Rosehill's it.
“It's the birthplace of the Golden Slipper and it is hugely important in Parramatta and western Sydney and Sydney generally.
“And to flog it off in circumstances where no one can sensibly explain the process is just, well, it's a betrayal.”
Warwick Barr
The ATC election is also being held amid ongoing financial pressures that have been the catalyst for the club to consider a sale of Rosehill for housing.
The 2023/24 financial year resulted in the ATC posting a $2.4 million operating loss.
The club reported an overall profit of $512,000 for the year, but the operating deficit and wagering headwinds paint a bleak outlook, according to chairman Peter McGauran.
Walter said he was reluctant to stand again until he was approached by racing friends at the forefront of the Save Rosehill group.
“When some of the people involved in that group said ‘we think you should be in the mix (for a board position)’ I said I would give it a go,” Walter said.
“Whether or not people want to vote for me, well, we’re going to find out.
“But having the support of (former ATC board member) Julia Ritchie and the team means a lot to me.”
Walter said the Rosehill proposal and a subsequent parliamentary inquiry had highlighted the machinations of the ATC’s board and executive operations.
He believes there are more pressing matters for the club to address than a sale proposal that has been light on substance.
"To flog it off in circumstances where no one can sensibly explain the process is just, well, it's a betrayal,” - David Walter
A NSW parliament Select Committee report into the unsolicited proposal between the ATC and the state government will be released in December.
“The mooted sale of Rosehill is a symptom of a broader malaise and is not itself the point,” he said. “It makes this board election interesting.
“There are a few things that bother me. The first is just the shambles around the (Rosehill) decisions to date.
“The second is you've got to remember the club only has limited management resources. The senior executives only have so much time in their days.
“And instead, they're spending the capacity that is available on this sort of dog-and-pony show.
“And so I say, ‘look, you guys, you're wasting your time. We need to put this Rosehill sale stuff behind us and refocus.
“The board needs to do that. It's only the board that can, as it were, refocus management.”
Bren O’Brien
A racehorse owner for more than two decades, Walter says there needs to be a realignment of the ATC’s core business.
That would mean evaluating the club’s race programming and prize money distribution as well as racetrack surfaces and amenities.
In an era when Racing NSW has a major say in how ATC delivers its racing schedule, Walter wants the club to have a bigger input.
“I think the club should be able to contribute a bit more assertively when it comes to the race programming,” he said.
“Perhaps it has been but with some of the prize money and some of the newly established races, I don’t know where that’s all really going, frankly.
“Having really big prize money is in one sense great and it’s a hallmark of success in the industry here (in NSW).
“But (some) of that money can be used for all sorts of things such as racetrack surfaces and facilities - both for horses and racegoers.”
A vote on the Rosehill deal was slated for 2024 but in a recent letter to ATC members, McGauran said further due diligence was needed to examine planning, environmental and engineering reports associated with all aspects of the project.
